Kerby Anderson

Will artificial intelligence replace your job? The answer to that important question depends on the type of job you have and how fast AI is implemented in society.

Mario Loyola reminds us of a Karl Marx quote: “The production of too many useful things results in too many useless people.” He lived through the industrial revolution and saw menial jobs being replaced by machines. The AI revolution could replace a significant percentage of entry-level jobs.

Personal computers have enhanced your ability to work. AI has the potential to replace you entirely. AI can draft contracts, analyze financials, write code, and perform all sorts of functions usually untaken by new business employees or junior lawyers. In the area of customer service, AI chatbots can handle all the routine questions leaving just a few tasks for humans to step in to process more complex or emotional issues.

Different studies come to different conclusions about AI job loss. One study, for example, found employment already declining since the release of ChatGPT. Another found less of an impact because the loss of some jobs was replaced by an increase in postings for other jobs.

Perhaps the greatest impact may be on the economy itself. Some economists are predicting that the increased efficiency from AI will create real economic deflation. This could have a negative impact on our debt-based economy suggesting that government officials would want to expand liquidity to prevent a deflationary spiral.

Disruption will take place in the next few years. We need to be prepared for this new technological age.